Freddie Purchases Persist

$111.6 billion 1st quarter purchases
By MortgageDaily.com staff
4/25/2005

No news is good news for Freddie Mac, which today reported the latest quarter's business activity held steady from the prior period.

New business purchases during the first quarter were $111.6 billion, according to Freddie's latest monthly summary, almost unchanged from $110.9 billion during the fourth quarter and $113.8 billion during the first quarter a year ago.

Business purchases were $39.1 billion for just the month of March, the secondary lender reported, up from $36.6 billion the prior month but below the $43.1 billion during March 2004.

The total portfolio ending balance was $1.5 trillion, the McLean, Va.-based enterprise said, consisting of approximately a $0.7 trillion retained portfolio and $0.9 trillion in outstanding participation certificates.

Ninety-day plus delinquency on single family loans during February was 0.72%, according to the report, unchanged from the prior month and down a basis point from the fourth quarter. Delinquency is reported on a one-month lag.

The congressionally chartered company quoted a monthly and quarterly average duration gap of 0, unchanged from the previous periods.

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